Thorn co. applies asc topic 740, income taxes. at the end of year 1, the tax effects of temporary differences were as follows: accelerated tax depreciation resulting in deferred tax liability: $75,000 (related to noncurrent asset)additional inventory costs for tax purposes resulting in deferred tax asset: $25,000 (related to current asset)a valuation allowance was not considered necessary. thorn anticipates that $10,000 of the deferred tax liability will reverse in year 2. in thorn's december 31, year 1 balance sheet, what amount should thorn report as noncurrent deferred tax liability? a. $40,000b. $50,000c. $65,000d. $75,000

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?